IFM Investors Pty Ltd lowered its position in shares of Truist Financial Corporation (NYSE:TFC) by 25.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 99,122 shares of the insurance provider’s stock after selling 34,047 shares during the quarter. IFM Investors Pty Ltd’s holdings in Truist Financial were worth $3,722,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of TFC. Ballew Advisors Inc acquired a new position in Truist Financial during the second quarter valued at approximately $229,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Truist Financial by 1,160.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 88,495 shares of the insurance provider’s stock worth $3,322,000 after acquiring an additional 81,473 shares in the last quarter. Whittier Trust Co. boosted its holdings in Truist Financial by 4,647.0% in the second quarter. Whittier Trust Co. now owns 257,716 shares of the insurance provider’s stock valued at $9,675,000 after purchasing an additional 252,287 shares during the last quarter. Fulton Breakefield Broenniman LLC purchased a new position in Truist Financial in the second quarter valued at about $258,000. Finally, Gradient Investments LLC grew its stake in Truist Financial by 54.8% during the 2nd quarter. Gradient Investments LLC now owns 3,887 shares of the insurance provider’s stock valued at $146,000 after purchasing an additional 1,376 shares in the last quarter. 72.03% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the company. Janney Montgomery Scott reduced their target price on Truist Financial from $57.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Raymond James upgraded shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Wednesday, June 17th. Morgan Stanley raised their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Argus cut their target price on shares of Truist Financial from $65.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Finally, ValuEngine cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $46.53.

In other Truist Financial news, Director Nido R. Qubein bought 10,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were purchased at an average price of $37.98 per share, with a total value of $379,800.00. Following the purchase, the director now directly owns 65,325 shares of the company’s stock, valued at $2,481,043.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brantley J. Standridge sold 4,800 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $31.82, for a total value of $152,736.00. Following the transaction, the vice president now owns 14,010 shares of the company’s stock, valued at approximately $445,798.20. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

NYSE:TFC opened at $35.20 on Tuesday. The firm has a market capitalization of $48.17 billion, a P/E ratio of 10.00, a P/E/G ratio of 1.30 and a beta of 1.45. The business has a 50 day simple moving average of $38.24 and a 200 day simple moving average of $42.10. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.99 and a quick ratio of 0.98. Truist Financial Corporation has a 12-month low of $24.01 and a 12-month high of $56.92.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 20th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.33. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Truist Financial had a return on equity of 8.98% and a net margin of 19.60%. The firm’s quarterly revenue was up 93.2% compared to the same quarter last year. During the same period last year, the business posted $0.97 earnings per share. Research analysts anticipate that Truist Financial Corporation will post 3.3 EPS for the current fiscal year.

Truist Financial Company Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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